SINGAPORE-BASED video-analytics firm Graymatics has secured an equity investment from smart-city platform-provider Quantela, in a move which could win for the startup access to more global projects in the smart-city space through its investor.
The startup, which analyses videos in real time to provide insights on matters like security and ad placement, declined to disclose the investment amount. Quantela takes a minority stake with this"strategic" deal, which could help it strengthen its capabilities in video analytics for its own artificial intelligence driven platform, it said. Amr Salem, the company's chief executive, said the investment in Graymatics will give Quantela a"competitive edge".
By tapping into Graymatic's technology, Quantela can offer capabilities in improving public safety by tracking suspicious behaviour and abandoned objects; it can also improve traffic flow and crowd management, and help detect traffic violations through number-plate recognition, he added. Abhijit Shanbhag, president and chief executive of Graymatics, said:"The utility for video analytics goes beyond security and can easily transcend into a powerful tool that can help us run our lives and cities more efficiently."
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